Hydrogen Economy - Iceland

November 25, 2012 (LocalOrg) - Iceland has been moving away from petroleum for quite some time. While large corporations still attempt to monopolize Iceland's energy, it is clear that as technology makes it easier to achieve the technical prerequisites for producing hydrogen and fuel cells, the energy industry, not only in Iceland, but worldwide will become increasingly decentralized and independent of corporate monopolies. ABC Australia and Journeyman Pictures provides a look the state of Iceland's hydrogen economy in 2003.

Unfortunately, as progress was being made in Iceland's hydrogen economy, threatening to replace all land based transportation and its fishing fleets with hydrogen fueled systems, in 2009, a banker induced economic collapse set back projects an estimated 10 years, according to the New York Times.

(Originally posted Oct 2003) As oil reserves around the globe dry up, Iceland is getting ready to become the world's first hydrogen economy.